Budget carrier GoAir has recently rebranded itself into ultra-low cost airline Go First. Accordingly, the airline said that at the heart of this revamp is the full embrace of the ultra-low-cost airline model. The airline cited factors such as single aircraft type across its fleet has positioned it to operate the ultra-low-cost model.
“To communicate this change, Go First also dons a rebranded identity. With this change, Go First is poised for its next phase of growth as an ultra low cost carrier,” the airline said in a statement.
Post this big move, the group has filed the Draft Red Herring Prospectus (DRHP) for its initial public offering (IPO) for Rs 3600 . They filed a DRHP with the capital market regulator Securities and Exchange Board of India (SEBI) for its IPO. The company, which is in the process of rebranding itself as ‘Go First’, said, it will offer fresh equity shares aggregating up to Rs 3,600 crore that will be used to repay loans and clear dues.
